clear

cd "Write the path of data folder"

import excel Counterfactual.xlsx, sheet("Penetrate") firstrow

replace CardPenetrationRateRS = CardPenetrationRateRS*100

replace CardPenetrationRateGDP = CardPenetrationRateGDP*100


* Figure 1: Upper Figure

twoway (connected CardPenetrationRateRS Year, color(black)) (line CardPenetrationRateGDP Year, color(black) lpattern(dash)), ///
graphregion(color(gs15)) xtitle(Year) ytitle(Card Penetration Rate (%)) xlabel(2004(1)2013)
		
